New York, March 21 – GS Finance Corp. priced $10 million of contingent income buffered autocallable securities due March 20, 2025 linked to the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.6009%, paid monthly, if the underlying ETF closes at or above its 80% downside threshold on the related monthly observation date. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
The securities will be automatically called at par if the ETF closes at or above its initial level on any monthly determination date.
At maturity, the payout will be par unless the ETF declines by more than 20%, in which case investors will lose 1.25% for every 1% that the ETF declines beyond 20%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent income buffered autocallable securities
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| Underlying fund: | SPDR S&P Biotech ETF
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| Amount: | $10 million
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| Maturity: | March 20, 2025
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| Coupon: | 13.6009%, paid monthly, if the underlying ETF closes at or above its 80% downside threshold on the related monthly observation date; coupon payment events will automatically include any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless the ETF declines by more than 20%, in which case investors will lose 1.25% for every 1% that the ETF declines beyond 20%
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| Call: | Automatically at par if the ETF closes at or above its initial level on any monthly determination date
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| Initial level: | $97.10
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| Downside threshold: | 80% of initial level
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| Downside leverage: | 125%
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| Strike date: | March 13
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| Pricing date: | March 14
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| Settlement date: | March 19
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| Agent: | Goldman Sachs & Co. LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 0.10%
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| Cusip: | 40057YQX4
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